Now that British PM David Cameron has announced his resignation, it is clear that the Leavers will have to form a new government, negotiate the actual break with the EU, and make good on their myriad miraculous promises. Such as that the £350 million pounds the UK supposedly transferred net per week to Brussels would now be a windfall ready to be redeployed as a domestic welfare bounty.

But already, prominent Leavers are backpedaling, like UKIP's Nigel Farage, who now claims he never said this sum would be available for investment in the National Health Service, according to yesterday's Independent.

Thus a more fitting metaphor for the next stage of the Brexit process is the English nursery rhyme Humpty Dumpty:

Humpty Dumpty sat on a wall,Humpty Dumpty had a great fall.All the king's horses and all the king's menCouldn't put Humpty together again.

Alice's repartee with Humpty Dumpty from Lewis Carroll's "Through the Looking Glass" seems even more appropriate to characterize the semantic confusion around the Brexit debate:

"I don't know what you mean by 'glory,' " Alice said. Humpty Dumpty smiled contemptuously. "Of course you don't—till I tell you. I meant 'there's a nice knock-down argument for you!' " "But 'glory' doesn't mean 'a nice knock-down argument'," Alice objected. "When I use a word," Humpty Dumpty said, in rather a scornful tone, "it means just what I choose it to mean—neither more nor less." "The question is," said Alice, "whether you can make words mean so many different things." "The question is," said Humpty Dumpty, "which is to be master—that's all."

Alice was too much puzzled to say anything, so after a minute Humpty Dumpty began again. "They've a temper, some of them—particularly verbs, they're the proudest—adjectives you can do anything with, but not verbs—however, I can manage the whole lot! Impenetrability! That's what I say!"

Friday, June 24, 2016

English squad kit may not be the most stylish, but it is leading by example. Image: Guardian

CIB breaking news: Coachs from all participating teams have committed their players to only attempt own goals from now on, out of respect for yesterday's Brexit vote.

German coach Joachim Löw said that "in view of the recent turn in EU public sentiment, own goals were a more fitting reflection of what the electorate wants than traditional scoring. Own goals are now clearly the way to go in European football."

Meanwhile, the BBC reports that the Brexit vote has sparked calls in other EU countries for similar referenda on leaving the union. Populist parties in France, Italy and the Netherlands apparently now smell blood.

In Manchester, New Hampshire on June 13, Donald Trump (right) pointed out he had correctly predicted after the May 28 rampage of radical silverback gorilla Harambe (left) in Cincinnati that yesterday’s tragedy in Orlando would happen (all the more remarkable since it had not yet happened at the time of the speech). Photo left: Handout/Reuters via The Guardian; right: AFP/Getty via Politico

I predicted this would happen on May 28, but FBI alligator trappers have had their hands tied by the animal rights politically correct Obama administration. He won’t even say “radical animalistic terrorism”! He doesn’t get it, or he gets it better than anybody understands.

Trump asserts in his speech that it can hardly be a coincidence that the silverback gorilla, the alligator, and Obama all come from Africa, although the reviled “mainstream press” has repeatedly pointed out that all three were demonstrably born in the United States, and that alligators are not even native to Africa.

He goes on to say that “as long as we don’t know what is going on, as president I will ban the entry of all wild animals into the United States. We can't afford to be politically correct anymore.”

To forestall criticism that this is a form of animal racism, Trump points out that he employs hundreds of “domesticated animals” at his Mar-a-Lago private club in Palm Beach, Florida. But the club has had a long-standing policy against employing alligators, gorillas, or indeed any other wild animals from outside the Judeo-Christian tradition.

About Me

I'm a research economist at UNU-MERIT (Maastricht, The Netherlands) and IIASA (Laxenburg, Austria) with a specialization in the economics of innovation, complex dynamics, economic growth and evolutionary economics. By the 2008 world crisis at the latest it became clear that macroeconomics, financial markets and economic policy cannot be entrusted anymore to mainstream economists. Hence this blog.